Which of the following would cause a firm’s LRAC curve to shift up? A
Which of the following would cause a firm’s LRAC curve to shift up?
A) An increase in the amount of “learning by doing.”
B) An increase in the price of labor, all else constant.
C) An increase in the amount of output produced by the firm.
D) A decrease in the amount of capital employed by the firm.
ANSWER
B
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